Marshawn Lynch was one of the greatest running backs of his era. The man affectionately known as “Beast Mode” terrorized defenses for much of the late 2000s and early 2010s. He carried the Seattle Seahawks to two Super Bowl appearances and a Lombardi trophy in 2013. He finished his career with over 11,000 yards rushing including the playoffs and scored 94 touchdowns. Yet for all his on-field brilliance? Lynch’s greatest contribution to the NFL might be how he handled his earnings. A lesson new Chicago Bears rookie Justin Fields is taking to heart.
As a running back, Lynch knew early on that his shelf life in the NFL would be limited. So he’d have to make sure he saved as much money as possible. The way he found to do that was as simple as it was savvy. He would put every penny of his actual contract money away in savings while he’d live comfortably off the revenue he acquired from marketing and sponsorships. Considering this included his trademark “Beast Mode” apparel along with deals with Skittles, Nike, Progressive, and Activision? It was a smart move.
One that Fields, according to Front Office Sports, plans to shamelessly copy.
The guiding rationale here was to allow players to better budget their salaries, although Fields and Pitts told Front Office Sports they have a plan for their paychecks that renders the point moot.
“My plan right now is to not really touch any of my contract money and just pretty much live off of the marketing money,” Fields said…
…Both athletes have an assortment of endorsements that can support their financial decisions. Pitts has endorsements with Jordan Brand, Raising Canes, and Panini America, while Fields has deals with Bose, Chipotle, and Wonderful Pistachios.
One of the great epidemics in professional sports and especially the NFL is young players getting all that new money and then recklessly spending it. Before they realize the dangers, they could find themselves out of the league having failed to save enough to live on for the rest of their lives. This was covered in a great ESPN 30 for 30 documentary titled “Broke.” The numbers uncovered were staggering.
It seems 60 percent of former NBA players are broke within five years of retirement. As for the NFL? Within two years, 78% of former players have gone bankrupt or are under financial stress. This is likely why the league has enacted ways to help players better budget their money. Fields seems to be taking matters into his own hand. Copying Lynch is far from a bad idea.
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Justin Fields continues to demonstrate his intelligence
The guy is an absolute sponge when it comes to football knowledge. He can take in an elongated play call and spit back out almost perfectly despite going literal weeks without talking to the coach who gave it to him. It seems that intelligence isn’t restricted to football either. Fields is showing that he has a sharp understanding of business too. Not only is he showcasing himself in different Bears hats, but he already has a plan in place for how he’s going to handle his incoming millions.
This demonstrates how mature Justin Fields is despite being just 22-years old. He is still a kid in many ways. Yet he carries himself like a man. Whoever has been giving him life advice deserves some kind of special recognition because that person is the real MVP. His football career is likely going to span no more than 10-15 years if he’s lucky. That is a short part of his actual life.
He’ll want to be comfortable for the many years after that.
This is why saving his money now makes so much sense. A sensible spender can easily living off $50 million for literal decades. If Fields ends up hitting big on his next contract? He could make a quarter billion in his NFL career. Not only could he live a great life on that, but he would also be able to turn it into even more money with smart investments.
